Samsung reveals net profit of $8.2billion for Q1 2014

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The profit still has plummeted if we compare the results from the same period of last year; they have taken a dip by 3%.

The earnings report of the first quarter of 2014 has been revealed by Samsung and they have posted a net profit of 8.5 trillion won ($8.2 billion) from 53.68 trillion won ($51.8 billion) of revenue. This was most certainly in line with the earnings guidance which came out earlier this month. The profit still has plummeted if we compare the results from the same period of last year; they have taken a dip by 3%. This is the second fall in quarterly profits and according to Samsung this is the result of the smartphone market saturating and maturing completely on the product life cycle.

The mobile division of Samsung reported an operating profit of 6.43 trillion Won ($6.2 billion USD) for the quarter and this is down by 1.2% from a year ago and 18% down if compared to the previous quarter. However, Samsung is expecting the demand for the Galaxy S5 to increase over the next quarter when the phone is past all the camera defects. The company is looking forward to a sales digit which will be greater than what it had for the Galaxy S4. For the future, Samsung is expecting positive changes with the profit expected to grow as a result of improved sales from display panels and appliances.